https://www.taxtmi.com/news?id=56377 The GST Council restructured rates into a predominant two-tier framework while retaining high rates for ultra-luxury items and cess treatment for tobacco; reduced rates on many consumer and aspirational goods take effect on the implementation date. Political critique says the package omits the states' demand for an extension of compensation, leaves compliance and classification burdens, and fails to resolve sectoral issues and MSME-related threshold and interstate-supply concerns. Proposed next steps include raising interstate thresholds, incentivising state-level GST coverage for excluded bases, and addressing sector-specific anomalies. en-us Sun, 21 Sep 2025 18:46:03 +0530 Sun, 21 Sep 2025 18:46:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=56377 The GST Council restructured rates into a predominant two-tier framework while retaining high rates for ultra-luxury items and cess treatment for tobacco; reduced rates on many consumer and aspirational goods take effect on the implementation date. Political critique says the package omits the states' demand for an extension of compensation, leaves compliance and classification burdens, and fails to resolve sectoral issues and MSME-related threshold and interstate-supply concerns. Proposed next steps include raising interstate thresholds, incentivising state-level GST coverage for excluded bases, and addressing sector-specific anomalies. News - Sun, 21 Sep 2025 18:46:03 +0530 https://www.taxtmi.com/news?id=56377